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Bitcoin demonstrated the possibility of a financial ledger that operates without the need for a trusted central authority. However, concerns persist regarding its security and considerable energy consumption. We assess the consensus…
Blockchains rely on a consensus among participants to achieve decentralization and security. However, reaching consensus in an online, digital world where identities are not tied to physical users is a challenging problem. Proof-of-work…
The security of most existing cryptocurrencies is based on a concept called Proof-of-Work, in which users must solve a computationally hard cryptopuzzle to authorize transactions (`one unit of computation, one vote'). This leads to enormous…
Recently emerging Decentralized Finance (DeFi) takes the promise of cryptocurrencies a step further, leveraging their decentralized networks to transform traditional financial products into trustless and transparent protocols that run…
Distributed consensus mechanisms have been widely researched and made popular with a number of blockchain-based token applications, such as Bitcoin, and Ethereum. Although these general-purpose platforms have matured for scale and security,…
This document describes a new consensus algorithm which is asynchronous and uses gossip based message dissemination between nodes. The current version of the algorithm does not cover the case of a node failure or significantly delayed…
The Bitcoin system only provides eventual consistency. For everyday life, the time to confirm a Bitcoin transaction is prohibitively slow. In this paper we propose a new system, built on the Bitcoin blockchain, which enables strong…
Consensus in decentralized systems that asynchronously receive events and which are subject to Byzantine faults is a common problem with many real-life applications. Advances in decentralized systems, such as distributed ledger (i.e.,…
Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…
With the rapid growth of hyperconnected devices and decentralized data architectures, safeguarding Internet of Things (IoT) transactions is becoming increasingly challenging. Blockchain presents a promising solution, yet its effectiveness…
The Hashgraph consensus algorithm is an algorithm for asynchronous Byzantine fault tolerance intended for distributed shared ledgers. Its main distinguishing characteristic is it achieves consensus without exchanging any extra messages;…
Censorship resistance with short-term inclusion guarantees is an important feature of decentralized systems, missing from many state-of-the-art and even deployed consensus protocols. In leader-based protocols the leader arbitrarily selects…
The proof-of-work consensus protocol suffers from two main limitations: waste of energy and offering only probabilistic guarantees about the status of the blockchain. This paper introduces SklCoin, a new Byzantine consensus protocol and its…
Proof-of-Work (PoW) consensus mechanism is popular among current blockchain systems, which leads to an increasing concern about the tremendous waste of energy due to massive meaningless computation. To address this issue, we propose a novel…
Tezos is an innovative blockchain that improves on several aspects compared to more established blockchains. It offers an original proof-of-stake consensus algorithm and can be used as a decentralized smart contract platform. It has the…
A decentralized online petition system enables individuals or groups to create, sign, and share petitions without a central authority. Using blockchain technology, these systems ensure the integrity and transparency of the petition process…
Distributed Ledger Technologies (DLTs), when managed by a few trusted validators, require most but not all of the machinery available in public DLTs. In this work, we explore one possible way to profit from this state of affairs. We devise…
We propose a novel sidechain construction tailored to be compatible with the Horizen blockchain and designed for conducting secure and decentralized cross-chain transfers without requiring the mainchain nodes to track sidechains to verify…
Distributed ledger technology has gained wide popularity and adoption since the emergence of bitcoin in 2008 which is based on proof of work (PoW). It is a distributed, transparent and immutable database of records of all the transactions…
Tetris is an Asynchronous Byzantine Fault Tolerance consensus algorithm designed for next generation high-throughput permission and permissionless blockchain. The core concept of Tetris is derived from Reasoning About Knowledge, which we…